Brazilian payments fintech PicPay has announced plans to add cryptocurrency services to its app, opening the feature to more than 60 million users in Brazil. The move will allow customers to buy digital assets with fiat funds directly inside the app and marks another step in the broader push by major Latin American fintech platforms into crypto.
BTC, ETH, and USDP in the First Rollout
According to the company’s announcement, PicPay will initially support BTC, ETH, and USDP in its wallet. USDP is a stablecoin backed by Paxos, and local reports said the crypto infrastructure for the service will also be handled by Paxos. The same provider has already worked with other Brazil-based platforms offering crypto services, including Mercado Libre and Nubank.
Anderson Chamon, PicPay’s co-founder and vice president of products and technology, said the company intends to enter the sector in a strong way, stressing that crypto will not be treated as a side feature but as an important business line. The rollout is expected next month, although it remains unclear whether PicPay will enable crypto deposits and withdrawals.
Crypto Payments and Merchant Settlement
Beyond buying and holding digital assets, PicPay also plans to let users pay with crypto at merchants that already accept PicPay as a payment option. The company said it aims to launch this capability later this year. To shield merchants from market swings, crypto used in payments will be automatically converted into fiat before settlement.
By the end of the year, PicPay expects its wallet to support more than 100 cryptocurrencies, significantly widening the range of available assets for users.
Stablecoin Ambitions With BRC
One of PicPay’s more ambitious initiatives is the planned launch of its own Brazilian real-pegged stablecoin, BRC. The company sees the token as a tool for purchases and payments in everyday commerce. Chamon said the stablecoin is not intended only for PicPay users, adding that even tourists visiting Brazil could potentially buy BRC on an exchange through PayPal or another digital wallet and spend it in the local market.
PicPay’s move reflects a wider trend in Brazil, where major fintech firms are increasingly integrating crypto into mainstream payment apps. It also highlights growing interest in stablecoin-based transactions and digital asset payments across the region.